Funding arb · Price arb /

W

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.032%

Price spread now: MEXC against OKX+0.220%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$870.870% of the position

Long on OKX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 7 days−0.206%−$21 · spread now +0.220%, 7d avg +0.026%

Together, before fees−0.156%−$16 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.195% dearer against OKX than usual: you sell high and buy low, +$19 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX W-USDT-SWAP	0.01181	0.0100	pay 0.0050% / 4h	40m 07s	$1.3M	$1.9M	20x
Short	MEXC W_USDT	0.01184	0.0100	get 0.0050% / 4h	40m 07s	$12.8M	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against OKX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee OKXbpFee MEXCbpOrdersPrice spread, now +0.220%Rate

Funding earned: $0
Price spread: +0.220% → +0.026%: $19.45
Slippage, 4 orders: −$73.04
Fee OKX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$67.59
Costs to cover: 0.870%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; MEXC: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy OKX live order book, 2 min ago	1.27 bp	30.3 bp −$30	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	2.96 bp	10.6 bp −$11	54.4 bp −$544	88.3 bp −$8,833	175.9 bp −$87.9K

W on 17 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit W_USDC-PERPETUAL	−0.0257%	1h	0.01183	+0.119%	$16K	$2K	10x	as long as short
Injective W/USDC PERP	+0.0033%	1h	0.01209	+2.362%	$1K	$1K	12x	as long as short
Hyperliquid W	+0.0100%	1h	0.01182	+0.076%	$2.0M	$345K	5x	as long as short
Binance WUSDT	+0.0100%	4h	0.01183	+0.187%	$2.9M	$6.5M	50x	as long as short
Bybit WUSDT	+0.0100%	4h	0.01182	+0.059%	$4.1M	$1.9M	50x	as long as short
OKX W-USDT-SWAPlong	+0.0100%	4h	0.01181	long leg	$1.3M	$1.9M	20x
Gate W_USDT	+0.0100%	4h	0.01181	−0.017%	$447K	$229K	75x	as long as short
MEXC W_USDTshort	+0.0100%	4h	0.01184	+0.220%	$12.8M	$1.4M	50x
KuCoin WUSDTM	+0.0100%	4h	0.01181	−0.008%	$379K	$212K	50x	as long as short
Bitget WUSDT	+0.0100%	4h	0.01183	+0.161%	$1.3M	$580K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX W-USDT	+0.0100%	4h	0.01183	+0.127%	—	$6.8M	—	as long as short
Variational Omni W	+0.0100%	4h	0.01179	−0.184%	$71K	$41K	—	as long as short
GRVT W_USDT_Perp	+0.0100%	4h	0.01180	−0.135%	$128K	$410K	10x	as long as short
Extended W-USD	+0.0104%	1h	0.01183	+0.201%	$59K	$231K	5x	as long as short
Coinbase International W-PERP-INTX	+0.0360%	1h	0.01186	+0.415%	$14K	$15K	50x	as long as short
Backpack W_USDC_PERP	+0.0557%	1h	0.01184	+0.262%	$44K	$44K	15x	as long as short
Kraken Futures PF_WUSD	+0.1687%	1h	0.01185	+0.335%	$147K	$183K	20x	as long as short